The SEC requires Bridgewater Capital's Bitcoin ETF to announce the withdrawal of its application

ChainCatcher news, Bloomberg ETF analyst Eric Balchunas tweeted that the U.S. Securities and Exchange Commission (SEC) requested that Grayscale Capital announce the withdrawal of its Bitcoin ETF application yesterday. The specific reasons for the company's decision not to re-enter the Bitcoin spot ETF competition remain unclear, but if the ETF were to launch, it could potentially increase fund flows by 15%.

According to documents, Grayscale Capital's Bitcoin ETF had submitted a registration statement for securities under Section 6(a) of the Securities Act of 1933 to the SEC, which has been filed for over 9 months but has not yet become effective. The SEC ordered it to announce the withdrawal of its application by March 12, 2024.